Neco 2018 Financial Accounting Question 24
Practice objective / multiple choice question 24 from the 2018 Neco Financial Accounting examination.
The following trial balance (in naira) was prepared after posting the adjusting entry for depreciation (Depreciation Expense \(12,000\) debited and Accumulated Depreciation \(12,000\) credited):\n\nDebit: Cash \(150,000\); Accounts Receivable \(70,000\); Equipment \(80,000\); Sundry Expenses \(30,000\); Rent Expense \(8,000\)\n\nCredit: Accounts Payable \(70,000\); Bank Loan \(130,000\); Capital \(100,000\); Accumulated Depreciation \(12,000\); Service Revenue \(?\)\n\nThe trial balance shows a debit excess of \(8,000\), which is placed in a suspense account.\n\nWhat is the amount of Service Revenue?
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About This Question
This is Neco 2018 Financial Accounting Question 24. It is one of the objective questions from the 2018 Neco Financial Accounting examination.
Difficulty level: Medium .
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